Citizens Bank lowers mortgage rates to boost homeownership

Citizens Bank Guyana Inc. said on Wednesday it has reduced home mortgage interest rates and introduced more flexible repayment terms to support citizens in building or buying new homes.

The bank outlined a tiered rate structure for residential loans, with rates ranging from 3.5 per cent for loans up to $ 10 million, 3.7 per cent for loans up to $20 million, 4.95 per cent for loans up to $30 million, 5.0 per cent for loans up to $50 million, and competitive rates for loans over $50 million available on application.

Qualified borrowers can access 100 per cent construction financing, repayment terms of up to 35 years, 48-hour loan approvals, home insurance discounts, reduced attorney fees, and no commitment or processing fees.

“Whether building for the first time or seeking a better deal on an existing mortgage, we want to support Guyanese families in making homeownership a reality,” said Eton Chester, Managing Director of Citizens Bank Guyana.